The price made a reverse on 1.24000 and was unable to move up to level of 1.25000 showing that more seller are coming to the market were by forming double top it means that selling is need and targeting profit at level of 1.23000
The situation in the Middle East remains unpredictable and very unstable, while Israel's proposed invasion of Gaza still seems to be delayed. The market is expected to maintain a risk-off mentality one week ahead with many important events and figures. UK unemployment figures are due out tomorrow morning, followed by the latest S&P Global PMI data.
Ratings agency...
GBPUSD remains a Buy intraday trend
In the short term buy intraday in the 1.21600-1.21400 area
sl: 1.21000
tp:1.22000-122300
The Hamas-Israel conflict and yields continue to pose a threat to the currency pair ahead of a series of key economic data from the UK and US this week.
In the H4 framework, GBP/USD started to rise after testing his 1.2100 support, but the...
For my own analysis i can see that the price has form double button which means is still moving higher and will still break out so going long is needed
Hello traders!
GBP/USD closed the last two trading days of the previous week in negative territory. Although this currency pair attempted a modest recovery at the start of Monday, it failed to gain momentum.
At the time of writing, GBP/USD continues to maintain a downward trend, with prices fluctuating around 1.217 and declining by 0.37% for the day. If...
GBP/USD Short Trading Opportunity
1. The price closed below the Trend Magic Indicator line.
2. US Dollar Index DXY uptrend continues.
3. Vortex indicates downtrend signal.
4. Retail trader data shows 72% of traders are net-long. Strong contrarian short signal.
SL - above the Trend Magic Indicator line or Vortex indicator change trend signal
TP1 - 1.2040
TP2 -...
🔸Hello traders, let's review the 16 hour chart for DXY the US dollar index today.
Speculative XABCD in progress, with PRZ/D set at 106.60, so expecting more gains/
upside in September. Bullish outlook for DXY / Bearish outlook for EURUSD.
🔸XABCD structure is defined by point X at 105.60, point A at 101.10, point B
at 104.30, point C at 100.00, point D/PRZ at...
Daily chart suggest a deeper correction before lower.
For wave analysis, it is what we call expanded flat, where A and B waves are 3 waves follow by wave C in 5 waves.
Still a long way to go before we can find out if this works. Bulls need to hold 101.65 and 100.57
I bring exciting news that presents a unique opportunity to leverage the recent Bank of England (BoE) rate decision in your trading strategies. The resulting divergence between BTC/GBP and GBP/USD has created a temporary relationship with immense potential for predicting appropriate moves. Let me shed light on this exciting prospect and inspire you to act.
As...
On the weekly timeframe, OANDA:GBPUSD has come back down to previous resistance turned support AND the line of an uptrend. What do we think? Personally, I am short. Last week's indecision candle was met with higher than normal volume followed by a continued selloff. A break below could mean big red soon.
There are several reasons why one might believe that GBP/USD will fall after reaching a supply zone:
1. Technical analysis: A supply zone is an area on a price chart where there is a concentration of sellers, leading to an imbalance between supply and demand. When the price reaches this zone, sellers may overcome buyers, leading to a potential reversal and...
GBPUSD broke out of the resistance and it has turned the previous resistance now to support.
I am anticipating a continuous upward trend to the to the target levels marked above.
However, if price falls back below the support, I may look for a sell short. (GU hasn't ben my favourite to trade lately)
What is your anticipation? Kindly Like, comment and share
hello Traders,
Have you got plan for GU this week??
Let's have a look plan GU of PhoTrading,
Bias : BUY from here, Support area to OB SELL 1.2960-13150
SL all : 1.2640
Stay safe and happy trading!
